HSBC and Halifax have recently launched direct only mortgage deals, in contrast Precise Mortgages recently launched prime products that are competitive across all LTV bands (up to 80 per cent) and are only available through intermediaries.
Precise Mortgages’ range offers a two year product, either fixed at 2.89 per cent, with a 70 per cent LTV, £995 fee and a revert rate of 3.92 per cent, or fixed at 3.39 per cent, with an 80 per cent LTV, £995 fee and again reverting to 3.92 per cent.
Alan Cleary, managing director of Precise Mortgages, said: “Borrowers should be seeking advice from intermediaries who can access mortgage products from a wide range of lenders, rather than from branch-based advisers who can only sell products from their employer.”
He continued: "Borrowers and brokers alike will be refreshingly surprised at how competitive our prime products are: with a revert rate and APR lower than most of the high street lenders, we believe our range is on par with, if not better than, what is available direct from lenders."
John Malone, chairman of Premier Mortgage Service, added, "Brokers should support Precise Mortgages as they are giving a viable alternative to the high street. Borrowers can clearly benefit from the advice and competitive deals available exclusively to brokers rather than visiting a high street branch."
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